The world’s industrialized countries made good on their pledge to provide at least $100 billion a year in climate assistance to poorer nations in 2022, two years after the original deadline, according to a new analysis.
Why it matters: The delay in fulfilling the pledge, which was made at the Copenhagen climate talks in 2009, generated resentment and doubts among developing nations regarding future climate funding promises.
Zoom in: According to a new OECD report, developed countries provided $115.9 billion in climate finance for developing nations in 2022, exceeding the $100 billion annual goal for the first time.
- This was a 30% jump in climate finance from 2021, the report found, which was the biggest year-on-year increase.
- Hitting the $100 billion goal comes just as countries work to come up with a new climate finance target, known as the New Collective Quantified Goal, to be decided at COP29 in Baku, Azerbaijan, in November.
Yes, but: $100 billion a year […]
Two years late, a few dollars short, and creative accounting… but the climate keeps changing.
https://www.carbonbrief.org/rich-countries-met-100bn-climate-finance-goal-by-relabelling-existing-aid/
Apparently the two years late and billions of shortfall was made up by creative accounting. However climate change kept going on…
https://www.carbonbrief.org/rich-countries-met-100bn-climate-finance-goal-by-relabelling-existing-aid/